Warranty Transactions--Bowens Co. sold 600 test kits to Faraday at a price of $220 each (the units cost $130 each) on January 1, 20x3, on account. The units come with a two-year assurance warranty. Bowens estimates that warranty expenses relating to the units sold will equal 6% of sales. Faraday paid Bowens for all of the units on 2/15/20x3. During the 20x3 year, Bowens paid $3,000 related to the assurance warranty. Prepare all journal entries related to these transactions for 20x3. Omit descriptions